Public holidays exact vehicle sales toll in April
A slew of public holidays in April took their toll on domestic new-vehicle sales, which, at 44 503 units, were 1 523 units fewer, compared with the same month last year.
Sales numbers released by the Department of Trade and Industry show that new-passenger-car sales declined by 1.9% in April, to 30 184 units.
The National Association of Automobile Manufacturers of South Africa notes in a statement that the April market had been punctuated by “intense competition in a challenging, difficult trading environment”, leading to a number of “incentive packages to promote new-vehicle sales”.
The used-car market had also shown a modest recovery, indicating that some consumers saw more value in this segment of the market.
Sales of new light commercial vehicles, bakkies and minibuses, at 12 077 units, declined by 6%, while sales of medium trucks, at 777 units, dropped by 4.7%.
New heavy truck and bus sales shrunk by 6.8%, to 1 465 units.
“The sudden decline in commercial sales is indicative of current business sentiment in the market,” comments Simphiwe Nghona, executive head of the motor division at asset finance group WesBank. “Market confidence is low, and the current economic climate is not conducive to growth. As a result, corporate buyers are electing to hold onto assets for longer by extending the replacement cycle, and not incur any further debt or capital expenditure on replacing or acquiring business assets.”
New-vehicle exports provided the only good news for the month.
The local automotive assembly industry moved 23 615 units to markets abroad – a 40.5% gain on April last year.
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